The American Gaming Association (AGA) has welcomed updated regulatory guidelines released by the Small Business Administration (SBA) that make small gaming companies eligible to participate in the Paycheck Protection Program.
Bill Miller, the President and CEO of AGA stated: “In the nearly one month since the CARES Act was enacted to provide economic relief to blunt the impact of the COVID-19 pandemic, the American Gaming Association and our allies have fought tirelessly to correct the Small Business Administration’s antiquated policy that precluded gaming companies from qualifying for loans through the Paycheck Protection Program.
“We are pleased that the new regulatory guidelines released today make small gaming companies eligible for this critical program just as Congress has replenished its funding.”
Miller added he was grateful to President Trump and his administration for understanding that workers in the commercial and tribal gaming industries deserve the same assistance that other small businesses would receive. In addition, he noted the “…significant, sustained efforts of members of Congress to amplify the need for changes to the guidelines to get small gaming operators and their employees through this challenging time.”
Importantly, Congress has approved $310 billion in new funds to update the Paycheck Protection Program and an additional $174 billion in support for small companies, hospitals, and research projects, which President Trump has just signed into law.
Miller concluded by saying: “Policymakers plan to reconvene in early May to consider a fourth COVID-19 relief package and we are working diligently to communicate gaming’s priorities. At the same time, the AGA is working with our member companies on resources and information to guide reopening efforts when it is safe and healthy to do so.”
ICYMI: Earlier today @SBAgov granted all size-eligible gaming companies access to PPP loans. Read comments from the Nevada Congressional delegation, @GovSisolak, and the AGA on this critical victory for small gaming employees in @TheNVIndy. https://t.co/QtIqhRAOJT
— American Gaming Association (@AmericanGaming) April 24, 2020